BGH Capital, Sixth Street to buy Pushpay Holdings for $895 mln (updated)

Sixth Street Specialty Lending

28/10/2022 07:01

(Adds details, background)
       Oct 28 (Reuters) - 
    Private equity investors BGH Capital and Sixth Street
offered to buy New Zealand's Pushpay Holdings Ltd  PPH.NZ  for
NZ$1.53 billion (($895.42 million) in cash, the payment platform
provider said on Friday.
    The consortium, which collectively holds a 20.34% stake in
Pushpay, offered to buyout the company for NZ$1.34 per share, a
24.7% premium to the stock's last closing price on Thursday.
        The deal comes days after the payment platform confirmed
it received a buyout offer without revealing the name of the
party, but local media reported that Australian private equity
firm BGH Capital had made an offer valuing Pushpay at well above
A$1.2 billion (NZ$1.36 billion or $760.08 million).  urn:newsml:reuters.com:*:nL4N31B0JW
  
        The Auckland-based firm recommended its shareholders to
vote in favour of the scheme. 
  
       Both BGH Capital and Sixth Street were not immediately
available for comment. 
  
 (Reporting by Tejaswi Marthi in Bengaluru; Editing by Dhanya
Ann Thoppil)
 ((Tejaswi.Marthi@thomsonreuters.com;))